THINK LIKE A CHAMPION This page intentionally left blank THINK LIKE A CHAMPION An Informal Education In Business and Life DONALD J TRUMP with MEREDITH MCIVER Copyright © 2009 by Donald J Trump Published by Vanguard Press A Member of the Perseus Books Group All rights reserved No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher Printed in the United States of America For information and inquiries, address Vanguard Press, 387 Park Avenue South, 12th Floor, NYC, NY 10016, or call (800) 343-4499 Designed by Pauline Brown Set in 12 point Bembo Library of Congress Cataloging-in-Publication Data Trump, Donald, 1946– Think like a champion : an informal education in business and life / Donald J Trump with Meredith McIver p cm Includes index ISBN 978-1-59315-530-8 (hardcover : alk paper) Success in business Success Success in business—United States Success—United States I McIver, Meredith II Title HF5386.T814772 2009 650.1—dc22 2008055919 Vanguard Press books are available at special discounts for bulk purchases in the U.S by corporations, institutions, and other organizations For more information, please contact the Special Markets Department at the Perseus Books Group, 2300 Chestnut Street, Suite 200, Philadelphia, PA 19103, or call (800) 810-4145, ext 5000, or e-mail special.markets@perseusbooks.com 10 To my parents, Mary and Fred Trump This page intentionally left blank CONTENTS Foreword by Robert Kiyosaki Acknowledgments Introduction xi xiii xv Barack Obama Election Ushers in a Different World Essays, Assets, and Stephen King Innovation The Importance of Being a Team Player 11 An Early Thanksgiving 13 Learning Is a New Beginning 15 Learn to Think on Your Feet 19 Strive for Wholeness 23 Give Your Higher Self a Chance 27 Wisdom 31 The More You Learn, the More You Realize What You Don’t Know 35 vii CONTENTS Think Like a Champion 39 I View My Work as an Art Form 43 Building Connected Thoughts 47 Confronting Your Fears 51 Imagination: A Key to Financial Savvy 55 Is Business Success a Natural Talent? 57 Keep It Short, Fast, and Direct 61 Have the Right Mindset for the Job 65 Momentum Is Something You Have to Work at to Maintain 69 Learn from Setbacks and Mistakes 73 Tell People About Your Success 77 Prescience 81 The Shock Market 83 Financial Literacy 85 Destiny 89 Each Success Is the Beginning of the Next One 93 There Are Times When You Should Move On 97 Keep the Big Picture in Mind 101 Get the Best People You Can 105 Winners See Problems as Just Another Way to Prove Themselves 109 viii CONTENTS Scotland:You’re Hired! 113 Develop a Tempo When You’re Working 117 You Can Better Your Best at Any Time 121 They Thought I Was Doing So Well 123 It’s Not Personal—It’s Business 127 Think Like a Genius 131 Go Against the Tide 135 Think Positively 139 People Have Different Ways of Achieving Results 143 Discover and Live Your Purpose 147 Set the Standard 151 Go with Your Gut 155 Know Your Audience 157 The Good, the Bad, and the Rogue Wave 161 Building Your Reputation 169 “The Harder I Work, the Luckier I Get” 173 How to Get Rich 177 Work with People You Like 181 In Addition to Business: What the Successful Person Needs to Know 185 Donald J.Trump’s Recommended Reading Index ix 189 191 THINK LIKE A CHAMPION The second point I will bring up when it comes to success is that you cannot give up.You have to keep going and moving forward, no matter what is happening around you or to you It’s a form of positive thinking that is very powerful A word that comes to mind as a result of this approach is “indomitable.” I overcame some great setbacks just by being obstinate I refused to give in or give up To me, that’s an integrity of purpose that cannot be defeated or interfered with to any significant level Being steadfast in your intentions can reap great results The other word I like to think of along with indomitable is “tenacious.” In a way, they are almost interchangeable when it comes to business Being tenacious will make you indomitable in the long run The old tortoise versus the hare story still prevails With today’s globalization, I will emphasize the importance of paying attention to global events.The United States cannot be isolationist We may be the super power, but what that really means is that we have more responsibility Our position requires us to be more alert, more careful, and more empathetic than ever Power is at its best when it’s used in the most compassionate way possible When it comes to business success, it is equally important to know that success carries the same sort of responsibility Always know that you can be topped and that you can be toppled over Keeping that in mind will guarantee that you are in your best form for competition Even if you are currently the top gun, pretend that you are the underdog It will improve your insight as well as your vision Intrinsic value is a value that has been overlooked in today’s marketplace Everything has a dollar value, and it becomes very black and white That is necessary in business We live in a tangible world with tangible needs But I will say that I often look for the obscure, the gray area that implies a mystery or a value that is 187 DONALD J TRUMP more than money alone can carry I think most people will know what this is—something that is beyond monetary value I read a story about an art collector who had amassed a fortune in art, but his prized possession was a painting of his deceased son done by a friend of his son’s This painting was next to works by Picasso, Matisse, Monet, and Miró But it mattered most to the art collector Its intrinsic value far surpassed the millions represented by the masters.When the collector died, he bequeathed his entire collection to the person who bought the painting of his son, which sold for $10 I mention intrinsic value because as a businessman, it’s something that gives integrity and even mystery to everyday business Not everything is dollars and cents, although in many cases it has to be Look for the gray areas—it will enhance your life as well as your business sense As a businessman, I have realized that “to whom much is given, much is expected.” See yourself as having a lot already, and keep your integrity intact It’s the best way to pave your way to a comprehensive success 188 DONALD J TRUMP’S RECOMMENDED READING The Art of War by Sun Tzu This is a classic book about military strategy written during the sixth century BC The Cashflow Quadrant by Robert Kiyosaki and Sharon Lechter This is about working smart and is a good, clear guide to help you move toward financial freedom The Power of Positive Thinking by Norman Vincent Peale This book was published in 1952 and contains useful concepts to enable successful behavior I’m a cautious optimist but being optimistic is important to be effective The Golden Ratio by Mario Livio “The story of phi, the world’s most astonishing number.” This is fascinating whether or not you are a math whiz 189 DONALD J TRUMP’S RECOMMENDED READING Team of Rivals: The Political Genius of Abraham Lincoln by Doris Kearns Goodwin Goodwin reveals just how brilliant Lincoln was, with a political spin that has historical as well as contemporary interest The Last Lion: Winston Spencer Churchill by William Manchester This is Manchester’s second volume on Churchill It gives a great insight into Churchill as well as World War II No Ordinary Time: Franklin & Eleanor Roosevelt: The Home Front in World War II by Doris Kearns Goodwin This book brings to life a most interesting and pivotal time in U.S history side by side with the Roosevelts Ideas and Opinions by Albert Einstein Einstein was not just a scientist, but a great mind at work on many topics, which are covered here Essays and Lectures by Ralph Waldo Emerson Emerson’s writing is lucid and thought provoking, and he provides a balance of thought that can be edifying 190 INDEX Achievers habits and results, 143–145 higher self and, 27–29 results, 143–145 traits of, 94 See also Success Adaptation, 23, 24–25 See also Flexibility Aesop, 105 Apprentice,The as challenge, 110, 148–149 description/tasks, 19–20, 36, 63, 105–106, 122, 123 experience and, 139–140 positive thinking and, 140 success and, 89, 178 team spirit and, 11–12, 66–67 Aristotle, 39, 40, 132, 143, 144 Art life as performance art, 157, 158–159 work as, 8, 27–28, 43–45 Art of the Deal,The (Trump), 8, 44 Art of War,The (Sun Tzu), 33 Artists attributes of, 43–44 See also specific artists Audience common denominators and, 157–158 knowing, 157–159 Barrack, Tom, 161–168 BBC, 114 Beethoven, Ludwig van, 43–44, 102 Bell, Alexander Graham, 41 Bellino, Ricardo, 61–62 “Big picture,” 23, 24–25, 56, 58, 101–103 Biorhythms, 69–70 Blaming others, 66 Brand name building, 31–32, 169–171, 174 importance of, 31–32, 78, 122, 174 See also Power of a name; Trump name Brave New World (Huxley), 48 191 INDEX Brokaw, Tom, 11–12 Buck, Pearl S., 35 Buffet, Warren, 145 Building See Developing/ building Burnett, Mark, 28, 58, 148, 155, 178 Bush, George W., Conversation economizing, 61–63 Creativity business and, 60, 84 going against the tide, 135–137 See also Art; Artists Cross training your brain, 59 Curiosity, 94, 131 Calamari, Matthew, 182 Campbell, Joseph, 113 Camus, Albert, 27 Carter, Dominic, Cashflow Quadrant (Kiyosaki), 85 Cavuto, Neal, 82, 83 Challenges dealing with, 94 effects of, 19 significance of, 27, 110 The Apprentice as, 110, 148–149 Champions attributes of, 39, 40–41 thinking like, 39–41 Chanel, 78 Churchill, Winston, 32, 58, 102, 103 Clear Channel, 29 Comfort zone, 27, 136, 141 Commercials, 123–124 Common denominators, 157–158 Confucius, 61, 97, 99 Control, 65–66, 132 Da Vinci, Leonardo, 28, 132 Darwin, Charles, 23 De Gaulle, Charles, 136 Deadlines, 62 Deficit of U.S., Demographics, Dempsey, Jack, 39 Developing/building background work, 20, 21, 44 golf courses, 15, 37, 59, 113–115, 141, 156, 170 learning and, 15, 16–17 mixed-use condominium/ hotel concept, 7, 8, 173–174 See also specific developments Economizing conversations, 61–63 Education See Learning Efficiency, 178–179 Ego, 78 Einstein, Albert, 23, 109, 111, 131, 132, 133, 147 192 INDEX Emerson, Ralph Waldo, 3, 51, 93, 94, 110, 147, 148, 151 Emmy Awards, 124 Employees getting the best, 105–107 people you like, 181–183 “Entitlement mentality,” 175 Environment and heredity, 58–59 Ethics, 33 Experience, 31, 32, 34 Geomorphology, 114 Globalization/global events, 48, 174, 187 Goals achievement, 40–41 importance, 20 Golden ratio, 8–9 Golden Ratio,The (Livio), Goldwyn, Samuel, 121 Golf, 40 Golf courses developing/building, 15, 37, 59, 113–115, 141, 156, 170 Scotland, 37, 113–115 Trump National Golf Club, Briarcliff Manor, New York, 141 Gould, Glenn, 98 Graff, Rhona, 181 Grand Hyatt Hotel, Grand Central, 75 Greeks, a motto of, 84 Greenblatt, Jason, 182 Gumbel, Bryant, 114 Gut instincts, 28, 32, 82, 155–156 Failure, 28–29 Fears of being unique, 44 confronting, 51–53 of failure, 28–29 of winning, 40 Federer, Roger, 58 Financial literacy, 85–87 Financial Times, 16 Financial Times (UK), 131 Fischer, Bobby, 109 Flexibility, 89–91, 102–103 See also Adaptation Focus, 8, 67, 74, 178 Forbes, Malcolm, 81 Ford, Henry, 11, 65, 67, 169, 170 Franklin, Benjamin, 173, 174 Fuller, Richard Buckminster, 185 Habits and results, 143–145 Hamilton, Laird, 163–168 Hawthorne, Nathaniel, 89 HBO, 114 Heredity and environment, 58–59 Higher self, 27–29 Gates, Bill, 28, 58 Gelb, Peter, 60 193 INDEX History, 35–37 Hollywood Walk of Fame, 57 Horowitz,Vladimir, 98 How to Get Rich (Trump), 158, 177 Hugo,Victor, Humor, 123–125 Huxley, Aldous, 47, 48, 50 King Lear (Shakespeare), 107 Kiyosaki, Robert, 55, 81, 85, 86 Know-it-all, 15–16, 37, 50, 95, 122, 132 Knowledge breadth, 47–50, 178 connected thoughts, 47–50 financial literacy, 85–87 importance of, 95, 178 wisdom and, 31, 32, 33–34 See also Learning Imagination, 55–56 Information and preparation, 48, 131–132 Innovation, 7–9 “Inside City Hall,” “Instant gratification,” 175 Instincts, 28, 32, 82, 155–156 “Integrate Education” (Huxley), 48 Integrity, 12, 31–32, 33, 144, 185–188 Intrinsic values, 36, 122, 148, 187–188 Investing, 161–168 Irving, Washington, 135 Lagerfeld, Karl, 78 Leach, Mike, 153 Leaders characteristics of, 21 seeing yourself as, 21 Learning boredom and, 16, 17 continuing, 35–37 control and, 132 history, 35–37 importance, 15–17, 32–34 from setbacks/mistakes, 73–75 See also Knowledge Lickle, Brock, 164–166 Lincoln, Abraham, 32, 47, 50 Livio, Mario, Lombardi,Vincent, 181 Luck believing in, 59–60 work and, 173–175 Jean Georges Restaurant, 77 John, Elton, 78 Johnson, Samuel, 139 Jones, Bobby, 40 Journalistic approach, 144–145 Jung, Carl, 51, 155 King, Billie Jean, 40 King, Stephen, 3–5 194 INDEX MacArthur, Douglas, 33 Machiavelli, Niccolò, 33 Madoff, Bernard, 161–163 McCain, John, McConney, Jeffrey, 181 McMahon,Vince, 124 Messing, Debra, 12 Metropolitan Opera, 60 Michelangelo, 98, 102, 186 Mistakes/setbacks, 73–75 Mixed-use condominium/hotel concept, 7, 8, 173–174 Momentum, 69–71, 74, 78, 117, 118–119 Mona Lisa (da Vinci), 28 Moving on, 97–99 Mozart, Wolfgang Amadeus, 25, 58 Mullally, Megan, 124 Multilevel focusing, Multitasking, 56 Muschamp, Herbert, New York Times, 5, 81, 131 New York Times Book Review, Newsweek ad, 70–71 9/11 attacks/aftermath, 2, 65–66, 83 Nobel Prize for literature (2006), 81–82 O Henry Prize, Obama, Barack, 1–2 Oil price, 84 Onassis, Aristotle, 77 “Overnight success,” 17, 60, 62, 139, 145, 175 Pamuk, Orhan, 81–82 Passion and work, 25, 29, 59, 73, 86, 156, 177, 179, 186 Pavarotti, Luciano, 78 Peale, Norman Vincent, 177 Persistence/perseverance, 43, 57, 90–91, 111, 113–115, 139, 140–141, 174–175, 187 Phasing (music), 7–8 Phi, 8–9 Picasso, Pablo, 28, 43, 44 Player, Gary, 173 Pontifex, 48 Positive thinking, 139–141, 151, 187 Power of a name, 77–79 See also Brand name; Trump name Name See Brand name; Power of a name Napoleon Bonaparte, 19, 21 Natural talents, 57–60 Nature’s power, 33 NBC, 11–12, 178 Negativity, 28 Negotiation skills, 44, 62, 69, 128, 157–158, 186 New York program, New York Post, 131 195 INDEX Preparation/being prepared background work, 20, 21, 44 description, 65, 135–136 flexibility and, 89–91, 102–103 information, 48, 131–132 mistakes and, 74 Prescience, 81–82 Prince,The (Machiavelli), 33 Problems dealing with, 109–111 solving, 52, 53, 65–67, 109–111 Prodigies, 58 Purpose definition, 148 discovering your purpose, 147–149 Pythagoras, 15 Roosevelt, Franklin D., 157 Rosh Hashanah, 13 Ross, George, 182 Roth, Philip, 81 Saturday Night Live, 12, 124 “Scenario” test, 97 Schweitzer, Albert, 13 Scottish National Heritage, 114 Sense of humor, 123–125 September 11 attacks/aftermath, 2, 65–66, 83 Setbacks/mistakes, 73–75 Shakespeare, 49, 107 “Shock market” (2008), 82, 83–84, 85–86, 87 Short stories/writers, 3–5 Sisyphus, 74 Socrates, 16, 69, 71 Standards importance of, 4, 24, 44–45, 98, 135, 136–137, 144, 148, 151–153, 170, 171 setting, 151–153 Steinbrenner, George, 11 Stevenson, Robert Louis, 57 Stock market See “Shock market” (2008) Stravinsky, Igor, 28 Success business as impersonal, 127–129 Quixote, Don, 28 Rabbi from Los Angeles/ family, 13–14 Rand, Ayn, 85 Reich, Steve, 7–8 Republican Party, Reputation, 169–171, 186 See also Brand name Rich Dad Poor Dad (Kiyosaki), 85 Romeo and Juliet (Shakespeare), 49 Roosevelt, Eleanor, 196 INDEX future success and, 93–95, 121–122 how to get rich, 177–179 “overnight success,” 17, 60, 62, 139, 145, 175 working with people you like, 181–183 See also Achievers Sun Tzu, 33 Survival of the fittest, 23 Trump, Donald J jet use for ill child, 13–14 quote, 73 Scottish heritage, 37, 113, 115 Trump, Eric (son), 122, 169, 183 Trump, Fred C (father), 31–32, 58–59, 103, 135, 152 Trump, Ivanka (daughter), 122, 169, 183 Trump, Mary McLeod (mother), 37, 113, 115 Trump Hotel Collection, 122, 174 Trump International Golf Links Scotland, 115 Trump International Hotel & Tower, New York City, 7, 173 Trump Jr., Donald (son), 122, 169, 183 Trump name, 4, 31–32, 49, 122, 169–171, 174, 178 Trump National Golf Club, Briarcliff Manor, New York, 141 Trump Organization, The, 24, 122, 140, 151 Trump Place, 60, 122 Trump Productions, 178 Trump Tower, 44, 45, 52, 81, 121, 123, 127, 152 Target markets, 3–5 Team player/spirit, 11–12, 66–67 Tempo of work, 24–25, 117–119, 178–179, 181–182 Thanks/thanksgiving, 13–14 Think Big credo, 17 Think Like a Billionaire (Trump), 61–62 Thinking “big picture,” 23, 24–25, 56, 58, 101–103 importance, 17, 19–21 like a genius, 131–133 positive thinking, 139–141, 151, 187 on your feet, 19–21 Thinking big, 17, 55–56, 151, 152–153, 174, 175 Thoreau, Henry David, 20–21, 101, 103 Time magazine, 48 Transparency, 55, 56 197 INDEX Trump World Tower, United Nations Plaza, 121–122 Twain, Mark, 77, 79, 83 Values intrinsic values, 36, 122, 148, 187–188 types, 36 Visa commercial, 123–124 Visionaries, 28 Visualization, 49, 55–56, 132, 133 Warhol, Andy, 57, 86, 127 Weisselberg, Allen, 182 Wharton School of Business, 55, 57 Wholeness, 23–25 Why We Want You To Be Rich (Trump and Kiyosaki), 81, 85 Wilde, Oscar, 31, 123 Will and Grace, 12 Wisdom, 31–34, 97 Wollman Rink, Central Park, 152 Woods, Tiger, 58, 140 Work hours, 24 Wrestlemania, 124 Wall Street Journal, 131 War, 33 “Zone, the,” 69, 118 Zucker, Jeff, 12 United States, deficit of, Updike, John, 81 198 BOOKS BY DONALD J TRUMP The Art of the Deal The Art of the Comeback The America We Deserve The Way to the Top How to Get Rich Think Like A Billionaire The Best Golf Advice I Ever Received Why We Want You To Be Rich The Best Real Estate Advice I Ever Received Trump 101:The Way to Success Think Big Never Give Up Think Like A Champion BOOKS FROM TRUMP UNIVERSITY Real Estate 101: Building Wealth with Real Estate Investments Marketing 101: How to Use the Most Powerful Ideas in Marketing to Get More Customers Entrepreneurship 101: How to Turn Your Idea into a Money Machine Asset Protection 101: Tax and Legal Strategies of the Rich Wealth Building 101: Your First 90 Days on the Path to Prosperity Commercial Real Estate Investing 101: How Small Investors Can Get Started and Make It Big This page intentionally left blank .. .THINK LIKE A CHAMPION This page intentionally left blank THINK LIKE A CHAMPION An Informal Education In Business and Life DONALD J TRUMP with MEREDITH MCIVER Copyright © 2009 by Donald J Trump. .. Cataloging -in- Publication Data Trump, Donald, 1946– Think like a champion : an informal education in business and life / Donald J Trump with Meredith McIver p cm Includes index ISBN 978-1-59315-530-8 (hardcover : alk... while I was standing backstage in Los Angeles for the Emmy Awards when The Apprentice had been nominated for an award, Debra Messing, who had won acclaim and an Emmy Award for her performance in Will